Co-founder of Calvin Klein Inc. puts his 740 acre equestrian estate just an hour from New York up for sale for £81 million; about 65 stake winners and several horses that have competed at the Kentucky Derby have been produced there
“Murdered grocer’s son from the Bronx” Barry K. Schwartz and his childhood friend Calvin Klein co-founded the now world-famous fashion brand Calvin Klein Inc. in 1968 and sold it for £589 million in 2003.
Aside from spending his ever-growing fortune on horses – one of which he named ‘Degenerate Jon’ (after his son) and another ‘Killer Diller’ (after his friend the media mogul Barry Diller) – Schwartz and his wife, Sheryl, purchased 673 acres of land to the north of New York City in Westchester County in 1979 for the back then far from insubstantial sum then of £2.6 million.
There, not that far from Belmont Park racetrack in the small residential hamlet of Granite Springs, after adding yet more land to take their “equestrian estate” to a grand total of 18 deeded parcels on 740 contiguous acres, the couple created a world-class equestrian establishment that they filled with thoroughbred racehorses. Facilities at ‘Stonewall Farm’ – as it is now known – have evolved to include a turf racetrack, riding trails, a 40-stall yearling barn, two 24-stall broodmare barns, round pens and 4board fenced paddocks and pastures with run-in sheds.
A year after cashing in alongside Klein, stamp collector Schwartz’s new home was completed on the property. It features 24,000 square foot of accommodation, 8 bedrooms and 8 bathrooms. There is a 2,200-bottle wine cellar, a pub, a two-storey library “that would delight any reader” and living spaces that “invites elegant entertaining, whether intimate or on a grand scale,” according to selling agents Christie’s International Real Estate.
Elsewhere in the grounds, there are 8 staff residences (to house the 30 employees that currently maintain the estate), a guest house and a caretaker’s house. Formal gardens, designed by Edmund D. Hollander in geometric French and Japanese styles, adjoin the house and there is a 60-foot long swimming pool within a 4,000 square foot pavilion also.
Stonewall Farm is situated just one hour from Manhattan, but now that Mr and Mrs Schwartz are spending more time at another of their homes in Santa Barbara, California, they have decided to sell. Of it, realtor Kathleen Coumou told The Journal News:
“It’s on one of the largest pieces of property that one can purchase in the county. It was so convenient for [the Schwartzes] to be on this farm, with all its privacy, and still be close to New York… [It’s] magnificently laid out, with a southern-looking main house and behind it, it’s like you’re in Kentucky. You see the pastures with the horses and lots of woodlands. It’s quite spread out – it feels like you’re somewhere else, not in Westchester County… You have gorgeous views – hills and ponds and horses and paddocks, and different levels of rolling hills… You certainly can’t see anybody else around.”
“[Stonewall Farm will be sold to] a billionaire, who could come from anywhere.”
The Names & Numbers – Stonewall Farm, Mahopac Avenue, Granite Springs, Westchester County, New York, NY 10527, United States of America
April 2020 – For sale for £80.7 million ($100 million, €92.1 million or درهم368 million) through Christie’s International Real Estate. Of why, they chose this sum, realtor Kathleen Coumou told The Journal News: “We did a very thorough appraisal of the property – the land and all of the buildings – and came up with a price of $110 million, and then we decided to round it down to $100 million.”
June 2005 – The house is featured in Architectural Digest.
1999 to 2004 – Construction of main house, a “colonial-style manor” with a “white clapboard facade and a slate roof repurposed from the Yale Divinity School,” was completed to the designs of the New York architect Rebecca Rasmussen with an interior by the London based interior designer Kelly Hoppen.
2003 – Calvin Klein and Barry K. Schwartz sell their company to Philips-Van Heusen (now known as PVH Corp.) for £589 million ($730 million, €672 million or درهم2.7 billion).
1979 – Barry K. and Sheryl Schwartz pay £2.6 million ($3.25 million, €3 million or درهم11.9 million) for 673 acres of land. Of buying it, Mr Schwartz later commented: “”It was the easiest negotiation of my life. The seller asked $3.5 million, I offered $3 million and we settled on $3.25 million.” The couple purchased further land shortly thereafter.
1968 – Calvin Klein (born 19th November 1942) co-founds Calvin Klein Inc. with his childhood friend Barry K. Schwartz (born 25th May 1942) with a loan of £8,100 ($10,000, €9,200 or درهم36,700).